THE ROLE OF CENTRAL BANKS AND ECONOMIC SUSTAINABILITY IN THE CONTEXT OF THE DIGITAL AGE

MOLDOVEANU (COJOCARIU), Aurora Elena

doi:10.65672/jfme.2025.1.9

THE ROLE OF CENTRAL BANKS AND ECONOMIC SUSTAINABILITY IN THE CONTEXT OF THE DIGITAL AGE

Authors

MOLDOVEANU (COJOCARIU), Aurora Elena — Romanian Academy, School of Advanced Studies of the Romanian Academy, Doctoral School of Economic Sciences, National Institute for Economic Research "Costin C. Kirițescu", “Victor Slăvescu” Centre for Financial and Monetary Research

Landing page: https://www.icfm.ro/jfme.icfm.ro/articles/vol13i1p106-116.html

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DOI: 10.65672/jfme.2025.1.9

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Abstract

Human history reflects a continuous evolution, initially slow over millennia but significantly accelerated during the Renaissance and modern era. Geography, natural resources, conflicts, and technological progress have shaped societies, generating both material and spiritual achievements. The Industrial Revolution marked a turning point by replacing manual labor with machinery, bringing comfort and prosperity, but also creating environmental imbalances that became more evident in the 20th century. In the 21st century, climate change and global warming represent pressing priorities on the international agenda, with the 2015 Paris Agreement establishing ambitious targets for reducing greenhouse gas emissions and fostering renewable energy development. The objective of this paper is to analyze the strategic role of central banks and financial institutions in promoting sustainable investments, supporting green transition policies, and enhancing public awareness regarding climate-related risks. The methodology combines literature review with comparative analysis of European and Romanian practices, highlighting both achievements and challenges. Preliminary results show that green finance emerges as a fundamental driver of economic resilience, providing tools for redirecting capital flows toward environmentally responsible projects. Romania’s commitment to renewable energy targets illustrates the relevance of aligning financial systems with climate objectives, contributing to a cleaner, more inclusive and sustainable future.

JEL Classification

Q54, Q01, E58

Keywords

green finance, sustainable development, climate change, central banks, renewable energy

How to cite

MOLDOVEANU (COJOCARIU), Aurora Elena (2025). THE ROLE OF CENTRAL BANKS AND ECONOMIC SUSTAINABILITY IN THE CONTEXT OF THE DIGITAL AGE. Journal of Financial Management and Economics, 13(1), 106-116. DOI: 10.65672/jfme.2025.1.9.

RePEc record

Handle: Repec:vls:rojfme:v:13:y:2025:i:1:p:106-116